Stock Market Weekly Review
The equities market maintained the growth momentum for the second consecutive week of the year on the back of gains recorded in the market’s blue chips.
During the week to Wednesday, the Zimbabwe Stock Exchange (ZSE) All Share Index was 2 percent above prior week to settle at 11 217 points from 10 901 points. The heavy caps enjoyed a fine run during the week as the ZSE Top 10 Index rose 4 percent to 7 126 points while the ZSE Top 15 Index gained 1,2 percent to 7 922 points.
At 20 694 points, the Medium Cap was marginally down by 0,08 percent while the Small Cap went down 3 percent to 397 560 points.
Total market value was $1,36 trillion, representing a 2 percent increase on prior week.
The rarely traded Zeco led risers for the week after it more than doubled to 1 cent from 0,48 cents in the previous week. The gains in Zeco also propelled it by 108,33 percent, making it the biggest year-to-date gainer ahead of NMB.
TSL trailed with a 20 percent increase to $90 while banking firm NMB put on 17 percent to settle at $13,01. Industrial conglomerate, Innscor jumped 16 percent to close pegged at $185,96.
Beverages giant, Delta, increased 11 percent to $172,44 wrapping up the week’s top five gainers.
Other gains were seen in Axia which advanced 10 percent to $40,97 while the duo of Simbisa and Star Africa rose by 7 percent each to close at $102,68 and $1,28 respectively. Seed Co added 6 percent to $112,10 while Nampak rose by 4 percent to $11,50. Cassava and Econet rose by a marginal 1 percent each to $45,52 and $86,39 respectively.
On the downside, MedTech was the biggest casualty with a 31 percent decline to $23,15 compared to prior week’s $34.
Dairy and food processor, Dairibord gave up 20 percent to settle at $31 while insurance firm, FML lost 19 percent to $17.
Property firm, Mashonaland Holdings backtracked 16 percent to $2,50 while banking group, ZBFH fell 9 percent to $70 wrapping the week’s top five fallers.
Other losses were recorded in Ariston which lost 8 percent to $3,32 while the trio of CBZ, FBC and Hippo lost 6 percent each to $70,94, $31,89 and $260 in that order.
At $3,49, brick-making firm, Willdale was 5 percent below prior week while the duo of NTS and General Beltings went down 4 percent each to close at $2,17 and $6 respectively. The market’s most expensive counter, BAT fell 3 percent to $3 090 while CFI fell by the same margin to close at $90,05.
The only active resources group, RioZim remained flat at $40. Also remaining unchanged was spirits and wines maker, Afdis which closed at $125 while Masimba also maintained the same price of $54.
On Exchange-traded funds, the Morgan and Co Multisector ETF closed Wednesday session at $12,72, which was 0,7 percent above the previous session. The Old Mutual Top 10 ETF closed 1 percent below the previous day to close at $4,55.
Elsewhere, there were no price movements at the Victoria Falls Stock Exchange (VFEX) by end of Wednesday trading. All the four counters — Bindura, Caledonia, Padenga, and Seed Co International closed flat at US5,50 cents, US$13, US21 cents, and US28,05 cents in that order.-eBusiness Weekly
